MT4 platform software is provided by Metaquotes and there are a few reasons to learn MT4.

Ever thought of switching forex brokers but it is such a chore to learn how to use their proprietary trading platforms?

Thankfully, for many forex brokers, they offer MT4 platforms. Even if forex brokers have their own proprietary trading platforms, at times, they provide MT4 platforms to supplement their own platforms. Since most retail traders are already using MT4 platforms, it is best for vast majority forex brokers to offer that.

Of course, MT4 platform is user friendly and offers many analytical tools. For customized indicators, you can also download it from FX code base or create it using MQL4 language. If you know how to program, you can create and use your own automated trading program (Expert advisor).

Apart from MT4 desktop platform, MT4 mobile version is also user friendly. If you have a few accounts from different forex brokers, you can search and add the accounts on one interface.

There are many other advantages of using MT4 which you can look it up at Metaquotes.

I have 2 computer screens, one will be focused on charts, while the other will be used for checking the news and browsing the net.

9am: i will start to look at the news which happened while i was asleep. I will also look at the economic calender for today and tomorrow, paying special attention to events with medium to high importance. I do not trade the news but i still want to be cautious for news coming my way when i have open positions. After getting a picture of what news have been released and what upcoming news events there are, I will start to look at my charts for trading opportunities. For charts, i look at around 20 currency pairs, ranging from majors, minors to exotic pairs. If there is a trading opportunity and the spreads are reasonable, i may take the trade. At this hour of the day, in the Asian session of the market, market is still thin, there are usually few trading opportunities.

11am: i will go for brunch nearby. When i am not in front of my computer, i will still look at my positions using my mobile. I will also run some errands during this time.

1pm: I will be back in front of my screen, screening through 20 over currency pairs. The European session will be opening soon, there will be more liquidity in the market, there is more price action. Once i am on my trade, I will usually 'set and forget' and go about with my usual routine.

3pm: I will start to read, usually investment and forex related titles. I will also check out twitter news feed to look at what other traders are up to, twitter is also one of the best tools to keep up with market updates.

5pm: I will check on my trades (if any) and look for trading opportunities. Once that is done, i will hit the gym or go for a swim.

7pm: I will get a quick dinner and head back to my computer. Market is usually volatile with European session ongoing and US session about to open in a few hours.

12am: I will usually end my day at midnight. If i have a few positions, i will lighten my positions to rollover.

One thing that most beginners do not realise is that many traders eventually lose their first amount of capital deposited to trade forex. As this is an unspoken truth, it is only wise for you to trade with money you can afford to lose. Many beginners love the thrill of roller coaster ride in forex trading. Since they are new to the game, they get excited of the money they can potentially make in forex trading, it feels as though it is an online casino and they ultimately lose their money to the market.